Security Bank, MUFG deepen decade-long Philippine partnership

Insider Spotlight

• MUFG Manila is upgrading to a universal banking license in the Philippines
• Security Bank and MUFG will continue operating independently despite deeper ties
• MUFG holds a 20 percent stake in Security Bank after a decade-long partnership
  
  
  
  

Security Bank and Japan’s MUFG Bank are building on a decade-long partnership as MUFG Manila upgrades to a universal banking license, reinforcing the Japanese banking giant’s commitment to the Philippine market.

The development comes as the two banks prepare to mark the 10th anniversary of their strategic partnership in 2026. 

Security Bank brings a broad domestic franchise and nationwide branch network, while MUFG contributes global reach and institutional banking expertise.

Why it matters

MUFG’s expanded banking capabilities could create more opportunities for the partners to serve Philippine companies with cross-border financing, capital markets and other institutional banking needs, while allowing each bank to pursue its own strategy.

Security Bank president and CEO Victor Lee said the partnership has endured because the institutions bring complementary strengths.

“MUFG’s continued commitment to the Philippines is a positive development for the market,” Lee said. “For the past ten years, our partnership has worked because of the strengths each of us brings. Security Bank knows this market and our clients deeply, while MUFG brings global reach and expertise. Together, we can create greater value for the clients we serve.”

The bigger picture

The two institutions have established businesses in the Philippines and will continue to operate independently, according to a company release. Opportunities for further collaboration will be evaluated in the normal course and remain subject to applicable regulatory and governance requirements.

MUFG Manila Branch country head Masami Yoshitake underscored the Japanese bank’s continued interest in expanding its Philippine presence while maintaining its relationship with Security Bank.

“The Philippines is an important market for MUFG, and Security Bank remains an important strategic partner. As we strengthen our presence here, we look forward to building on what we have achieved together over the past decade,” Yoshitake said.

What to watch

The universal banking license does not alter the strategic rationale behind the partnership, with both banks retaining independent strategies even as MUFG expands its local capabilities.

MUFG holds a 20 percent stake in Security Bank. As of June 30, 2026, Security Bank reported P1.19 trillion in total assets and operated 396 branches nationwide, giving the partnership a substantial domestic platform alongside MUFG’s international network. —-Princess Daisy C. Ominga | Ed: Corrie S. Narisma